Kestra Medical Technologies, a company based in Kirkland, Washington, that specializes in developing cardiac monitoring technology, recently raised $196 million in funding to support its commercialization efforts. The company was founded a decade ago and has developed a Wearable Cardioverter Defibrillator (WCD) that has been used by over 10,000 patients. This device provides autonomous detection and defibrillation for ventricular arrhythmias and is specifically designed to meet the needs of female cardiac patients. Brian Webster, the company’s president and CEO, expressed excitement about using the funding to accelerate commercialization initiatives and transform the WCD market with their clinically proven system.
Kestra’s system, which received FDA approval in 2021, is equipped with features such as the ability to send an alert to Emergency Medical Services (EMS) operator after a defibrillation shock and a remote care patient data platform. Brian Webster, who has nearly three decades of experience in the medical device industry, previously led Physio-Control before joining Kestra as CEO in 2016. The company is backed by private equity firms including Bain Capital, with the latest funding round being co-led by Andera Partners, Ally Bridge Group, Longitude Capital, and Omega Funds. New investors such as T. Rowe Price Investment Management, Inc., Eventide Asset Management, and Gilmartin Capital also participated in the funding round.
As a result of the latest funding round, Kevin Reilly from Ally Bridge Group, Maxwell Bikoff from Longitude Capital, and Francesco Draetta from Omega Funds will join Kestra’s board. The company’s total funding to date now stands at $496 million, with approximately 260 employees. Kestra is poised to further advance its innovative cardiac monitoring technology and continue to make a significant impact in the field of cardiac care. The company’s focus on meeting the specific needs of female cardiac patients sets it apart in the market and positions it for further growth and success in the future.
With a strong leadership team and significant financial backing, Kestra Medical Technologies is well-positioned to drive innovation and commercialization efforts in the cardiac monitoring technology sector. The company’s Wearable Cardioverter Defibrillator (WCD) has already proven to be effective in providing autonomous detection and defibrillation for ventricular arrhythmias, with over 10,000 patients benefitting from its technology. The recent FDA approval of Kestra’s system further validates its efficacy and safety in cardiac monitoring. Brian Webster’s extensive experience in the medical device industry, along with the support of private equity firms and new investors, underscores the confidence in Kestra’s capabilities and potential for growth.
As Kestra continues to expand its commercialization initiatives and transform the WCD market, the company is focused on providing innovative solutions that address the underserved needs of female cardiac patients. The ability of the system to send alerts to EMS operators and offer a remote care patient data platform enhances the overall patient experience and outcomes. The addition of new board members from leading investment firms further strengthens Kestra’s strategic direction and governance. With a total funding of $496 million to date, Kestra is well-equipped to scale its operations and develop new technologies that advance cardiac care and improve patient outcomes.
The support and confidence of investors in Kestra Medical Technologies reflect the growing recognition of the company’s potential to make a significant impact in the cardiac monitoring technology market. With a strong track record of success and a dedicated team of professionals, Kestra is poised to continue driving innovation and growth in the sector. The company’s commitment to meeting the specific needs of female cardiac patients, as well as its focus on leveraging technology to improve the patient experience, sets Kestra apart as a leader in the field. With a clear vision for the future and a solid foundation of funding and expertise, Kestra is well-positioned to further revolutionize the cardiac monitoring industry and contribute to advancements in cardiac care.
